https://www.taxtmi.com/caselaws?id=207121 HC dismissed the revenue's appeal and upheld the Tribunal's deletion of additions under Section 68. It held that the A.O. erred in making an ad hoc addition by treating all deposits as unexplained cash credits based on discrepancies in only a few entries. The assessee had discharged the initial onus under Section 68 by explaining the identity of creditors and the nature of transactions. Once this onus is met, the burden shifts to the revenue, and the assessee is not required to prove the genuineness of transactions between creditors and their sub-creditors or the creditors' source of income. Findings of the Tribunal were not perverse. en-us Fri, 02 Sep 2011 00:00:00 +0530 Tue, 02 Dec 2025 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207121 HC dismissed the revenue's appeal and upheld the Tribunal's deletion of additions under Section 68. It held that the A.O. erred in making an ad hoc addition by treating all deposits as unexplained cash credits based on discrepancies in only a few entries. The assessee had discharged the initial onus under Section 68 by explaining the identity of creditors and the nature of transactions. Once this onus is met, the burden shifts to the revenue, and the assessee is not required to prove the genuineness of transactions between creditors and their sub-creditors or the creditors' source of income. Findings of the Tribunal were not perverse. Case-Laws Income Tax Fri, 02 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207121